Not sure if this a wise business decisions, thoughts?

[Andrea Jones]

I've recently started researching properties to buy with cash, and use as rentals, then (possibly) selling if the market increases enough. However, it seems like I'm missing something. 

The area I'm looking in has larger historic homes for $10-$15K. The area is somewhat sketchy, so I'm sure that explains the low prices. But rental prices on realtor.com are showing from $800 to $1,300. Am I missing something obvious? Even after purchase price, taxes and maintenance, it seems like the profits would be really good!

This city is near universities and teaching hospitals, so I think the demographics are also in my favor. Are med students a good choice for renters. Or would I be better off with section 8 families? And speaking of section 8, why do so many landlords shy away from accepting it, if it's guaranteed income?

Lastly (for now lol), I would like to use a real estate company to manage the house(s). Any big negatives with that?